Recession and Worldwide Economy Crisis has Forced some of the Top companies to rebrand their company with new logo and slogan in order to survive in this highly unpredictable economy slowdown.

But the best thing about this all economic crash is that we know we are IN, we are suffering but we don’t how and when we will get out of this crisis. Anyway I guess hopefully we all will be ok in coming years if not in months.

Global/United States recession and painful economic slowdown affects are heading towards India now: Over 50,000 IT professionals in the country may lose their jobs!!

It appears that Global/United States recession and painful economic slowdown affects are heading towards India now. India economic situation which is supposed to be in under control till now will remain in control during this global economics hard hitting period I just hope. Our government did bail out few industries earlier and now it seems like that our Pride IT & ITES industries also needs some bailout packages in coming days.

Yesterday Yahoo.com reported that Over 50,000 IT professionals in the country may lose their jobs over the next six months as the situation in the sector is expected to worsen due to the impact of global economic meltdown on the export-driven industry, a forecast by a union of IT Enabled Services warned.

I just hope this Global recession is not going to affect adversely Indian industries and we will be able to get out of this economic crunch and job losses things sooner and in a much better way. Keeping Finger Cross

The Indian legal process outsourcing (LPO) industry In India is increasing with rapid speed. Economic Slump and economic slowdown in international markets seems like that’s it’s going to benefit at least this sector (Indian legal process outsourcing (LPO) in India BPO segment. Today UK National Newspaper reports that 10 out of 30 top law firms in UK have outsourced administrative or legal work to Indian outsourcing partner. So that’s for sure that India Indian legal process outsourcing (LPO) is set to grow despite of this economic slump in world due to cost cutting measures started by most of the leading law firm in many countries and for sure going to benefit Indian legal process outsourcing (LPO) market.

Yes many Indian legal process outsourcing (LPO) firms can take big breath of relief that even after economic slump in world this segment is bound to grow, and there is no doubt that’s it will grow with high pace as Indian legal process outsourcing (LPO) provider’s have right and best talent to offer and better infrastructure to meet clients needs.

A word of Caution:

I know that the cost advantage Indian outsourcing Industry enjoys doesn’t seem set to disappear anytime in nearby future as we have best talents in world and we get about 80,000 English-speaking fresh law graduates pass out from Indian institutions every year but we need to keep a close eye on cost factor as well as union factor. Both can spoil industry.We need a proper recruitment procedure for all nw employees so that we can serve our clients in best manner. Secondly all the LPO guys especially people who is going to deal with legal work should go through proper security clearance and we also need more strict laws to safe this industry form any mischief’s.

Indian outsourcing market is set to suffer due to high increase of labor cost. Skills shortage and rising labor cost of India’s talents is driving away most of the big IT players towards East European countries and china to find out cost reduction. India is no longer able to give cost cut to these big IT players.

Many companies who were opened their offshore center in last few years here in India are planning to move somewhere else or in process of moving out because high cost of Indian Labor Market.

Emerging nations like Morocco, Hungry and other SE nations will eat major chunk of Indian IT outsourcing market share if we still not sit down, do some brain stormy thinking and make workable long term strategy to keep this industry at par.

We desperately need that our government should sit down with outsourcing and off shoring corporate leaders to identify specific skills required for the industry, current market trend and how we can reduce the cost of products and solution without hurting the cost of labor market and in future how we can control labor rising cost. Government should also try to find out the way to decrease taxes to keep this industry growth for at least next decade.

Outsourcing industry gives India billions of Dollars every year; this is the main factor that our economy is growing so fast. If we don’t do major brain stormy session now and don’t come up with some long term strategy for this industry then be prepared for sorry state.

We are heading to lose our greatest strength – low-cost labor – Act Now or for sure be ready for sorry state !!

Good News for Indian’s India’s economic growth unexpectedly accelerated to 9.2 percent last quarter. The expansion reported by the Central Statistical Organisation in New Delhi today was faster than the 8.9 percent predicted by economists for the three months ended Sept. 30 from a year earlier.There are 700 million Indians under the age of 30, This makes India an economic threat to all the other countries in the world. These 700 million young Indians will hopefully build India as the Economy Super Power of the world.

Carson Sasser came up with a nice links that talk about “Indian Shining Economy”. Thank you Carson for bringing this to my attention. Recently published report by Government of India says that India’s industrial production rose 11.4 percent in September, boosting growth for the first half of the fiscal year to 10.9 percent. Very nice to hear that Indian economy is growing fast and India Shining Brighter then ever expected. But question is how to improve the life of people who below the poverty line? Major challenges Ahead due to Crime Corruptions and AIDS..AIDS is taken very lightly by Government and it is going to be big challenge to our economy.